The Effect of Data Analytics on Corporate Banking Decision-Making: A Case Study of First Bank Nigeria, Lagos
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Background of the Study:
Data analytics has emerged as a transformative tool in corporate banking, enabling banks to make informed decisions by leveraging vast amounts of data. First Bank Nigeria in Lagos employs advanced analytics to assess credit risk, monitor customer behavior, and optimize product offerings. The integration of data analytics into decision-making processes allows the bank to tailor services, enhance risk management, and drive strategic initiatives that improve overall performance (Ibrahim, 2024). By analyzing patterns and trends, data analytics supports better forecasting, resource allocation, and customer relationship management. However, the successful implementation of analytics depends on data quality, integration capabilities, and the ability to derive actionable insights. This study examines the role of data analytics in shaping corporate banking decisions at First Bank, evaluating its impact on operational efficiency, risk assessment, and customer satisfaction. The research utilizes quantitative data and qualitative insights from 2023 to 2025 to provide a comprehensive analysis of data-driven decision-making in corporate banking (Okafor, 2023).
Statement of the Problem:
Despite the adoption of data analytics, First Bank faces challenges in fully integrating analytics into its corporate decision-making processes. Issues such as data quality inconsistencies, integration difficulties with legacy systems, and insufficient analytical expertise can limit the effectiveness of data-driven strategies, potentially leading to suboptimal business outcomes and increased risk exposure.
Objectives of the Study:
• To evaluate the impact of data analytics on decision-making in corporate banking at First Bank.
• To identify challenges related to data quality and system integration.
• To recommend strategies for enhancing the effectiveness of data analytics in corporate banking.
Research Questions:
• How does data analytics influence decision-making processes in corporate banking at First Bank?
• What are the key challenges in implementing data analytics?
• What measures can improve data quality and integration for better decision-making?
Research Hypotheses:
• H₁: Data analytics significantly enhances corporate banking decision-making.
• H₂: Data quality and integration challenges negatively affect analytical outcomes.
• H₃: Improved data governance and analytical training will enhance decision-making effectiveness.
Scope and Limitations of the Study:
The study focuses on First Bank’s corporate banking operations in Lagos, using internal data, performance reports, and employee interviews. Limitations include potential biases in data collection and the evolving nature of analytical technologies.
Definitions of Terms:
• Data Analytics: The process of examining data sets to draw conclusions and support decision-making.
• Corporate Banking: Banking services provided to businesses and corporations.
• Decision-Making: The process of making strategic choices based on available data and insights.
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